24R2.2 Release Notes
Updates in Lease Variation
Real Estate Manager has made changes to the "Date Change Was Known" field within the Lease Variation pop-up. The dates will now appear in a drop-down format where users need to select a date from the available list.
The "Date Change Was Known" will be a date which is the first day of the payment month. The "Date Change Was Known" cannot be:
A date on or before the start date of the contract
A date beyond the termination date of the contract
A date beyond the end date for an active contract
A date in the future
A date on or before the latest "Date Change Was Known" selected by the user within the Lease Variation pop-up
This enhancement ensures that correct dates for lease variations are chosen when the contracts are updated/modified in Real Estate Manager and synchronized with Lease Accounting Manager, generating accurate accounting output.
This change has also been applied to the “Update Reasonably Certain” section, where users update the reasonable certainty for existing renewal options.
Updates in Rent Reviews & Adjustments
Real Estate Manager can now preserve data for an Actioned review when the Actioned review is reverted and actioned again in the same synchronization process. This allows users to correct reviews without needing to re-enter data related to the reverted Actioned review.
Example
The following is the rent structure for a contract.
The user needs to edit the review with effective date 01/01/2024. This requires the user to revert the actioned review with effective date on 01/01/2025 & 01/01/2026.
When the user reverts the reviews, updates the review effective on 01/01/2024 and actions the reverted reviews effective on 01/01/2025 & 01/01/2026, the system will update all information which was entered by the user in the previous synchronization process while actioning the review.
When the user reverts an actioned review and then edits the pending review, there will be a warning message stating that the updated information entered in the pending review will be used to when the user actions the review.
When the user reverts a cost adjustment review, there will be a warning message stating that all information related to the actioned cost adjustment review will be lost once the review is reverted.
Improvement in Synchronization
Lease Variation – Adding Renewal Option Details in Lease Accounting Manager
Resolved an issue where, when a user performed a lease variation and added a renewal option to the contract, the synchronization process did not transfer the information related to the Reasonably Certain status for the renewal option to Lease Accounting Manager. This fix ensures that the duration of the contract is accurately supported by information related to renewal options in Lease Accounting Manager.
Update Assets
Real Estate Manager has fixed an issue where synchronization was failing when users attempted to update information related to assets. This improvement ensures that updates made to assets within Real Estate Manager, including changes to the asset's available date, depreciation start date, cost center, general ledger (GL) code, asset owner, and asset user, are now successfully synchronized and accurately reflected in Lease Accounting Manager.
Updates in Custom Reporting
Fix for Duplicate Invoice Details in Custom Reports
Resolved an issue where Real Estate Manager was generating duplicate invoice details for both payable and receivable contracts in custom reports using Asset Data sources. This occurred when multiple contracts were linked to a single asset. This fix ensures accurate and unduplicated invoice details in custom reports.
Changes to Current Rent in Custom Reports
Real Estate Manager will generate custom reports with data related to Current Rent & Current Cost based on the Contract options settings under the System Configuration.
If the setting is “true” then the custom report will show the last actioned cost under the current rent and cost section.
If the setting is “false” then the report will show the actioned cost based on the current period.
This will allow user to generate report and review cost details based on the current period via custom reports.
New Fields Added to Custom Reports
The following new data fields are added to the custom report:
First Payment Date: entered by the user when performing Lease Accounting Readiness Review
Contract Type